Dell Technologies Inc. (NYSE:DELL) Short Interest Update – MarketBeat

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Dell Technologies logo Dell Technologies Inc. (NYSE:DELL – Get Rating) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 7,230,000 shares, a growth of 25.5% from the August 15th total of 5,760,000 shares. Based on an average daily volume of 3,360,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.9% of the shares of the company are short sold.

Insider Activity at Dell Technologies

In related news, insider William F. Scannell sold 27,536 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $40.20, for a total value of $1,106,947.20. Following the completion of the transaction, the insider now directly owns 343,835 shares in the company, valued at $13,822,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dell Technologies news, insider William F. Scannell sold 27,536 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $40.20, for a total transaction of $1,106,947.20. Following the completion of the transaction, the insider now directly owns 343,835 shares in the company, valued at $13,822,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Anthony Charles Whitten sold 107,905 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $47.70, for a total value of $5,147,068.50. Following the transaction, the chief operating officer now owns 774,352 shares of the company’s stock, valued at $36,936,590.40. The disclosure for this sale can be found here. 47.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Trustcore Financial Services LLC bought a new position in shares of Dell Technologies during the 1st quarter worth approximately $26,000. Brown Brothers Harriman & Co. bought a new position in shares of Dell Technologies during the 1st quarter worth approximately $27,000. Centerpoint Advisors LLC boosted its stake in shares of Dell Technologies by 307.5% during the 2nd quarter. Centerpoint Advisors LLC now owns 599 shares of the technology company’s stock worth $28,000 after acquiring an additional 452 shares during the period. Covestor Ltd bought a new stake in Dell Technologies in the 4th quarter valued at $31,000. Finally, Avondale Wealth Management bought a new stake in Dell Technologies in the 1st quarter valued at $31,000. 26.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on DELL shares. Credit Suisse Group reiterated a “buy” rating and issued a $60.00 price target on shares of Dell Technologies in a report on Friday, August 26th. Wells Fargo & Company reduced their target price on Dell Technologies from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Friday, August 26th. Evercore ISI reduced their target price on Dell Technologies from $63.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. Cowen reduced their target price on Dell Technologies from $58.00 to $45.00 and set a “market perform” rating on the stock in a report on Friday, August 26th. Finally, Raymond James reduced their target price on Dell Technologies from $54.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.33.

Dell Technologies Stock Performance

Shares of Dell Technologies stock opened at $37.96 on Friday. The business’s 50 day simple moving average is $43.32 and its 200 day simple moving average is $46.56. Dell Technologies has a 52-week low of $36.74 and a 52-week high of $61.54. The firm has a market cap of $27.82 billion, a PE ratio of 5.49, a P/E/G ratio of 0.54 and a beta of 0.88.
Dell Technologies (NYSE:DELL – Get Rating) last posted its quarterly earnings results on Thursday, August 25th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.04. The firm had revenue of $26.43 billion during the quarter, compared to the consensus estimate of $26.47 billion. Dell Technologies had a return on equity of 305.10% and a net margin of 4.98%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $2.24 earnings per share. As a group, equities research analysts predict that Dell Technologies will post 5.82 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Wednesday, October 19th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, October 18th. This represents a $1.32 dividend on an annualized basis and a yield of 3.48%. Dell Technologies’s dividend payout ratio is 19.08%.

About Dell Technologies

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Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.

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